Top Concerns for America Retirees

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Top Concerns for American Retirees

1. Paying for healthcare
Health care expenses are one of the top retirement concerns of people over age 50. Despite that fact, few pre-retirees have estimated how much they need to save for health care costs in retirement.*

Q: How many pre-retirees have estimated the cost of future healthcare expenses?

15%

2. Maintaining an income stream
Outliving your savings can be a huge retirement concern for people nearing retirement. Working part-time for even just a few years may help you suspend drawing income from Social Security and savings while taking advantage of available pensions and benefits.*

Q: What % of 65-year-olds are in the workforce?

24%

3. Saving enough money
Today, nearly 25% of all 65-year-olds will live to age 90, according to the Social Security Administration. Reduce retirement anxiety by estimating how much you’ll need to save to cover a long retirement.*

Q: What % of baby boomers have nothing saved for retirement?

28%

4. When to collect Social Security
“Regardless of your full Social Security retirement age, which ranges from 65 to 67, you can collect retirement benefits as early as age 62 as long as you’ve paid into the program for at least 40 quarters or about 10 years. (Widows and widowers can collect survivor benefits at 60.) However, for each year you delay, your benefit increases by about 8% until age 70. So does it pay to wait?”*

Q: What % of retirees take Social Security at age 62?

48%

*Source: Investopedia

About Our Founder, James M. Connors

Connors Investor Services was founded in 1969 in Reading, Pennsylvania, as a Registered Investment Advisor (RIA). Jim Connors, founder and current Chairman, earned his B.A. in economics at Princeton University in 1954 and his MBA degree at the Harvard Business School in 1956. Mr. Connors has been in portfolio management and an advocate of writing covered calls on common stock since the beginning of the Chicago Board Options Exchange (CBOE®) in 1973. The Connors Option Service was one of the first options research publications produced exclusively for investment advisory firms throughout the United States.

In 2015, Jim and Anna Connors were recognized by Alvernia University and awarded the university’s Franciscan Award . The award honors individuals who selflessly give of their time, talents, and resources for the betterment of others. This award was presented to James and Anna Connors for exceptional service to the university, the community, and the profession. We are proud to have Jim as our founder.